Nicole in TX
Pearl Clutcher
Posts: 2,951 
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Post by Nicole in TX on Jun 29, 2014 14:48:13 GMT
And buy/sell on my own. Can the Peas recommend a good site to use? Any tips? I don't think I will be buying any Michael's stock any time soon!  |
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Post by pierkiss on Jun 29, 2014 14:49:31 GMT
I'm curious too. I hope you get lots of good replies. Where's Yubon when you need her!?  |
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Post by ntsf on Jun 29, 2014 15:30:04 GMT
we invest some in areas we understand...so my dh is in tech, so we have apple, telsa, and google. have been very happy. buying for long term
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jayfab
Drama Llama
procastinating
Posts: 5,521
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Post by jayfab on Jun 29, 2014 15:32:04 GMT
Good question, I'm curious too.
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Post by M on Jun 29, 2014 15:47:00 GMT
We use Scottrade. Easy to navigate and a local office if we want/need help.
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Post by Scrapbrat on Jun 29, 2014 16:20:06 GMT
DH has used Etrade and Scottreade. If you're going to do trades on your own, remember to keep scrupulous records because if you don't, that Schedule D on your tax form is a bear to complete. Don't ask me how I know.
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Nicole in TX
Pearl Clutcher
Posts: 2,951
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Post by Nicole in TX on Jun 30, 2014 10:24:02 GMT
Thank you all! It is hard to know where to start!
Scrapbrat, do Etrade and ScotTrade give you a Schedule D at tax time?
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Post by Scrapbrat on Jun 30, 2014 11:34:45 GMT
Thank you all! It is hard to know where to start!
Scrapbrat, do Etrade and ScotTrade give you a Schedule D at tax time? Well, you gat a statement from them that has some if the info that you need to complete Schedule D, but some of the information is stuff you have to figure out from your own records. You have to know your basis in every stock that you buy and later sell, which may or may not be a big deal. You want to keep your own records of exactly when you bought or sold each stock, with the exact buy or sell price. I had problems when we'd sell a bunch of shares that were purchased at different times--you have a bunch of different bases. |
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Post by Darcy Collins on Jun 30, 2014 14:13:00 GMT
Thank you all! It is hard to know where to start!
Scrapbrat, do Etrade and ScotTrade give you a Schedule D at tax time? Well, you gat a statement from them that has some if the info that you need to complete Schedule D, but some of the information is stuff you have to figure out from your own records. You have to know your basis in every stock that you buy and later sell, which may or may not be a big deal. You want to keep your own records of exactly when you bought or sold each stock, with the exact buy or sell price. I had problems when we'd sell a bunch of shares that were purchased at different times--you have a bunch of different bases. The Schedule D's have become much more detailed - mostly so the IRS doesn't have to rely on you to report your own basis. I can't recall the exact date, but anything purchased within the last year or two will have the basis reported to the IRS directly. I use Charles Schwab as well. The costs are reasonable, and they have a good selection of very low cost mutual funds. It is difficult to obtain a well balanced portfolio if you have a small amount to invest. You might consider starting with index funds. |
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Time to get off the internet!
